Auctionpay lands $5.5 million investment

Auctionpay, a Seattle firm that provides event-fundraising software and service solutions for nonprofits, says it has received $5.5 million in financing from two venture-capital firms, Seattle-based Maveron LLC and Denver-based Appian Ventures.

Auctionpay says it will use the funding to pursue its sales and marketing objectives, including growing its client base and market share throughout the U.S.

Auctionpay also says it has named Steve Sterba, former president, CEO and a board member of MyHealthBank Inc., as president and CEO and a member of its board of directors.

Jeff Jetton, Auctionpay’s founder, has been named chief strategy officer and remains a member of the company’s board.

In his new role, the company says, Jetton will guide its expanded focus on online fundraisng and community-building products.